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Wells Fargo shareholders urged to vote off most of the board

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Wells Fargo & Co. shareholders should vote to remove most of the bank’s board members after they failed to provide “timely and sufficient risk oversight” to head off a scandal involving the creation of fake customer accounts, according to proxy adviser Institutional Shareholder Services Inc.

Wells Fargo warns

Wells Fargo Building

Wells Fargo, seeking to resolve a bogus-account scandal that shook the company last year, warned investors it may find more victims. Separately, it said U.S. authorities are examining whether other firms abused its technology to violate international sanctions.

UBS steps up vetting of employees

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UBS has said it had expanded the number of employees that are subject to internal background checks to around 15 percent of its workforce in a move than came in the wake of numerous scandals.

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Wells Fargo Building

Wells Fargo shareholders urged to vote off most of the board

Wells Fargo & Co. shareholders should vote to remove most of the bank’s board members after they failed to provide “timely and sufficient risk oversight” to head off a scandal involving the creation of fake customer accounts, according to proxy adviser Institutional Shareholder Services Inc.

Wells Fargo Building

Wells Fargo warns

Wells Fargo, seeking to resolve a bogus-account scandal that shook the company last year, warned investors it may find more victims. Separately, it said U.S. authorities are examining whether other firms abused its technology to violate international sanctions.